Golden Cross Resources : Copper Hill Geochemistry Assay Results

For personal use only

GOLDEN CROSS RESOURCES LTD

ABN 65 063 075 178

301/66 Berry Street

NORTH SYDNEY

Phone [phone]

11 January 2022

ASX Market Announcements

Copper Hill Tenement

Geochemistry Surface Sampling Assay Results

The Company (ASX:GCR) has received the assay results for the recently completed infill and extension surface sampling over part of the Copper Hill tenement Exploration Licence 6391, north of Molong, NSW [refer ASX Announcement of 5 January 2022)].

The infill / extension sampling of surface soils was designed to extend coverage based on a MGA grid [MGA z55 GDA94] over areas of Copper Hill and surrounds that are potential future infrastructure sites [waste rock stack and tailings storage area, in previous draft site layouts].

Sampling was undertaken on a first pass spacing of 200 x 200 metres and covered 36 sites as shown in Figure 1.

The assay results are shown in Figure 2 and Figure 3.

A preliminary review of the plotted data shows that copper is elevated east of the former opencut and low over the opencut area itself. This fits with observations in recent oxide drillhole GCHD477 [refer ASX Announcement of 13 December 2021] which shows copper depleted in the upper arts of the oxide zone and gold remaining as a residual. The soil distribution of elevated gold in Figure 3 parallels the overall interpreted northwest trending corridor linking Little Copper Hill in the north with Wattle Hill in the south.

An extract tabulation of the main trace elements is included in Appendix 1.

GCR ASX Announcement - Copper Hill Tenement Geochemistry

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For personal use only

Figure 1 Copper Hill Tenement Geochemistry Locations

Figure 2 Copper Hill Geochemistry Soil Copper

GCR ASX Announcement - Copper Hill Tenement Geochemistry

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For personal use only

Figure 3 Copper Hill Geochemistry Soil Gold

The currently available data and samples are to be interpreted in more detail and further processing and evaluation are to be planned in the next stage of work.

This announcement has been reviewed and authorised for release by the GCR Board.

References to previous announcements

13 December 2021: Copper Hill Drilling Results

5 January 2022: Copper Hill Tenement - Planned Geochemistry Surface Sampling Completed

The information in this report that relates to Exploration Results is based on information from previous reports, compiled by Mr Bret Ferris, who is a Member of the Australasian Institute of Geoscientsts. (AIG). Mr Ferris is a consultant to Golden Cross Resources Limited, and has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Mr Ferris consents to the inclusion in this report of the matters based on that information in the form and context in which it appears.

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Appendix 1: Copper Hill Soils: Tabulation of Key Elements

For personal use only

SAMPLE FILE					BR21354936 Extract
						ME-ICP41u-AA26ME-ICP4ME-ICP4E-ICP4E-ICP41
						Cu	Au	Mo	Ag	Pb	Zn
						ppm	ppm	ppm	ppm	ppm	ppm
ID	Locality	Easting	Northing	RL	SampNo	1	0.01	1	0.2	2	2
MGA	MGA
115	Hill Top	674000	6341300	508	A37751	403	0.07	11	0.3	22	44
116	Hill Top	674200	6341300	544	A37752	60	0.18	142	0.7	71	7
117	Hill Top	674400	6341300	585	A37753	101	0.16	19	0.4	38	12
118	Hill Top	674600	6341300	607	A37754	59	0.18	5	0.3	17	8
119	Hill Top	674800	6341300	578	A37755	401	0.07	7	0.4	33	27
120	Hill Top	675000	6341300	566	A37756	353	0.11	7	0.5	16	33
121	Hill Top	675200	6341300	562	A37757	123	0.21	27	0.5	61	26
125	Hill Top	674200	6341100	519	A37758	67	0.05	22	0.4	29	17
126	Hill Top	674400	6341100	566	A37759	233	0.02	2	0.3	25	127
127	Hill Top	674600	6341100	574	A37760	213	0.40	10	0.5	53	10
128	Hill Top	674800	6341100	559	A37761	303	0.07	4	0.4	13	78
106	Hill Top	674000	6341500	524	A37762	208	0.05	8	0.2	18	54
107	Hill Top	674200	6341500	527	A37763	654	0.09	14	0.5	21	36
108	Hill Top	674400	6341500	546	A37764	316	0.19	4	0.2	16	45
109	Hill Top	674600	6341500	563	A37765	1290	0.12	17	0.4	17	169
110	Hill Top	674800	6341500	572	A37766	1830	0.19	3	0.8	33	305
111	Hill Top	675000	6341500	575	A37767	524	0.04	4	0.6	21	108
112	Hill Top	675200	6341500	569	A37768	222	0.02	1	0.4	35	238
113	Hill Top	675400	6341500	566	A37769	71	0.01	1	<0.2	17	105
114	Hill Top	675600	6341500	568	A37770	71	<0.01	<1	<0.2	15	110
105	Shades Rd	675200	6341700	564	A37771	124	<0.01	1	0.2	18	109
104	Shades Rd	675000	6341700	566	A37772	418	0.01	2	0.6	30	229
103	Shades Rd	674800	6341700	574	A37773	85	0.01	1	0.3	20	255
102	Shades Rd	674600	6341700	566	A37774	145	0.01	2	0.2	16	232
101	Shades Rd	674400	6341700	551	A37775	259	0.04	<1	0.4	20	138
100	Shades Rd	674200	6341700	563	A37776	227	0.13	10	0.4	37	23
99	Shades Rd	674000	6341700	545	A37777	113	0.17	14	0.9	68	9
98	Shades Rd	673800	6341700	518	A37778	345	0.07	17	0.7	35	57
90	Shades Rd	673800	6341900	520	A37779	261	0.12	10	0.3	42	77
91	Shades Rd	674000	6341900	534	A37780	473	0.15	4	0.3	30	156
92	Shades Rd	674200	6341900	544	A37781	190	0.08	4	0.3	42	279
93	Shades Rd	674400	6341900	566	A37782	108	0.03	2	0.4	33	369
94	Shades Rd	674600	6341900	562	A37783	73	0.04	1	0.3	47	248
95	Shades Rd	674800	6341900	571	A37784	168	0.01	<1	0.5	39	474
96	Shades Rd	675000	6341900	565	A37785	181	0.04	8	0.5	32	58
97	Shades Rd	675200	6341900	556	A37786	274	0.06	11	0.3	22	75

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Appendix 2: JORC Compliance Statement

Surface Geochemical Sampling: Soil

Sections 1 and 2 of Table 1, JORC Code, 2012 Edition

Section 1: Sampling Techniques and Data

Criteria	JORC Code explanation	Commentary

Sampling techniques

• Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling.
• Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.

• Samples were collected from skeletal soils at a depth of approximately 25cm using shovel & mattock and sieved in the field to -2mm, producing a sample of ~100-200grams in kraft paper packets for lab submission. Site characteristics were noted in field sample books

For personal use only

Drilling	• Drill type (eg core, reverse circulation, open-hole hammer, rotary air	•	N/A
blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple
techniques
or standard tube, depth of diamond tails, face-sampling bit or other
	type, whether core is oriented and if so, by what method, etc).
Drill sample	• Method of recording and assessing core and chip sample recoveries	•	N/A
and results assessed.
recovery
	• Measures taken to maximise sample recovery and ensure
	representative nature of the samples.
	• Whether a relationship exists between sample recovery and grade
	and whether sample bias may have occurred due to preferential
	loss/gain of fine/coarse material.
Logging	• Whether core and chip samples have been geologically and	• Sample site characteristics and soil properties are
geotechnically logged to a level of detail to support appropriate		noted in field sample books.
	Mineral Resource estimation, mining studies and metallurgical
	studies.
	• Whether logging is qualitative or quantitative in nature. Core (or
	costean, channel, etc) photography.
	• The total length and percentage of the relevant intersections
	logged.
Sub-	• If core, whether cut or sawn and whether quarter, half or all core	•	N/A
taken.
sampling
techniques	• If non-core, whether riffled, tube sampled, rotary split, etc and
and sample	whether sampled wet or dry.
preparation
• For all sample types, the nature, quality and appropriateness of the
	sample preparation technique.
	• Quality control procedures adopted for all sub-sampling stages to
	maximise representivity of samples.
	• Measures taken to ensure that the sampling is representative of the
	in situ material collected, including for instance results for field
	duplicate/second-half sampling.
	• Whether sample sizes are appropriate to the grain size of the
	material being sampled.
Quality of	• The nature, quality and appropriateness of the assaying and	• Sample preparation was maintained to match previous
laboratory procedures used and whether the technique is		procedures - Assays undertaken after pulverising whole
assay data
considered partial or total.		sample to >90% passing 75 microns..
and
laboratory		• Aqua Regia digest and analysis by ALS method ME-

tests	ICP41 (33 elements, low detection levels). Gold assays
	by 50g Fire Assay, ALS method Au-AA26. Analyses
	greater than 1% by method OG62
	• No instrumental analyses undertaken.
	• For geophysical tools, spectrometers, handheld XRF instruments,
	etc, the parameters used in determining the analysis including
	instrument make and model, reading times, calibrations factors

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